Lumbard & Kellner LLC Acquires New Stake in The Procter & Gamble Company (NYSE:PG)

Lumbard & Kellner LLC acquired a new stake in The Procter & Gamble Company (NYSE:PG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,504 shares of the company’s stock, valued at approximately $413,000.

Several other institutional investors have also bought and sold shares of PG. Fairway Wealth LLC purchased a new stake in shares of Procter & Gamble during the second quarter worth $29,000. Transcendent Capital Group LLC bought a new position in Procter & Gamble in the fourth quarter valued at $31,000. Ruedi Wealth Management Inc. increased its stake in Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after acquiring an additional 77 shares during the last quarter. POM Investment Strategies LLC bought a new position in shares of Procter & Gamble during the second quarter valued at about $34,000. Finally, Vima LLC bought a new position in shares of Procter & Gamble during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Shares of PG opened at $175.93 on Wednesday. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $177.94. The company has a 50-day simple moving average of $169.80 and a two-hundred day simple moving average of $165.49. The firm has a market capitalization of $415.22 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53.

Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. During the same quarter last year, the firm earned $1.37 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts anticipate that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, July 19th. Procter & Gamble’s dividend payout ratio is 65.85%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the sale, the chief executive officer now owns 13,721 shares of the company’s stock, valued at $2,332,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,553 shares of company stock valued at $63,829,141. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

PG has been the topic of a number of recent research reports. TD Cowen initiated coverage on Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective on the stock. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Barclays dropped their target price on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Stifel Nicolaus increased their target price on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and dropped their target price for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $175.79.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.